Daily chart analysis
According to the daily chart, USD/CAD will be in downtrend. If the price falls under EMA 14, this will be a confirmation for downtrend. The MACD also indicates a downturn for this pair in the long term. A target can be 1.25.
8 hour chart analysis
At this moment, price is stuck in a tight range, according to the 8 hour chart. The USD/CAD currency pair can break out of the range and fall under 1.3040. The MACD on 8 hour chart indicates also this downtrend.